In general terms, a SSAS is a pension scheme for (generally small) employers and a SIPP is a pension scheme for individuals.
However it is useful to further outline and compare the key aspects of both pension arrangements, so we have detailed this below:
| SSAS | SIPP |
|---|---|
| Occupational pension scheme | Personal pension scheme |
| Employer has over all control of scheme, with Scheme Administrator running day-to-day operations | SIPP provider has control over scheme, SIPP Administrator runs day-to-day operations |
| Regulated by the Pensions Regulator | Regulated by the FCA |
| Can loan up to 50% of assets to an employer | No loans to employer permitted |
| Investments registered in name of trustees Flexible choice of investments which is decided by member trustees | Investments registered in name of SIPP trustee company. Investment choice determined by SIPP rules |
| Can hold shares in an employer and unconnected party (up to 5% of fund value) | Can only hold shares in unconnected parties (if allowed by SIPP rules) |
| Borrowing of 50% of net value allowed | As with SSAS |
